Rice Energy Inc. Closes IPO

Rice Energy Inc. (NYSE: RICE) completed its initial public offering (IPO) of 50 million common shares, at $21 per share, including six million shares pursuant to the partial exercise by underwriters to buy more shares, the company said Jan. 29.The company sold 30 million shares, and the selling stockholder sold 20 million shares, Rice said.Net proceeds from the 30 million shares were $594.5 million after underwriters’ discounts and commissions were deducted, along with estimated offering expenses, the company said. The proceeds will repay all outstanding borrowings under the revolving credit...